KUALA LUMPUR (Nov 5): The federal government’s Northern Corridor Implementation Authority (NCIA) said it is working closely with the Penang government to upgrade strategic infrastructure in the state.
It is also working to implement strategic high-impact projects and human capital programmes under the recently approved Northern Corridor Economic Region (NCER) Strategic Development Plan (SDP) 2021-2025 to facilitate private investments, prioritise job creation and enhance entrepreneurial skills, it said in a statement today.
The regional development body said it has implemented various catalytic projects under the SDP that is expected to raise Penang’s gross domestic product by over 26% to RM128 billion by 2025.
These strategic and high-impact projects will see Penang attracting cumulative investments of more than RM82 billion by 2025 and create over 90,000 new jobs and over 22,000 new entrepreneurs, it said.
“The State Government of Penang has been collaborating with NCIA to ensure the strategic projects and human capital programmes outlined in the SDP are expedited to enable investment growth and contribute to elevating the socioeconomic status of the Rakyat in Penang,” said Penang’s chief minister Chow Kon Yeow at the Jawatankuasa Pemandu Negeri (JPN) meeting held earlier today.
According to NCIA, a top priority for Penang is to upgrade the infrastructure and port facilities of Penang Port to ensure the state continues to be the nexus for both local and international logistics and trade within the region.
The proposed enhancements will increase the efficiency of Penang Port to function as a trade gateway and boost the overall NCER competitiveness.
It added that the NCIA-led Single Campus Initiative, which positions Penang, Kulim in Kedah, and Ipoh in Perak as a single campus, will encourage cross-state collaboration to create a more holistic ecosystem, reduce competition and address regional imbalances.
NCIA said it also supports the existing innovation-based programmes such as the Collaborative Research in Engineering, Science and Technology Centre (CREST), which focuses on industry-relevant research and will further drive the growth of the R&D ecosystem in Penang.
“Since the beginning of the pandemic, the State Government of Penang appreciates the various forms of assistance that has been provided by the Federal Government to ease the hardship of the Rakyat. It is hoped that the Human Capital Programmes of the NCIA, which have been vital to support and accelerate the revival of Penang and the regional economy through the creation of jobs and economic activities for the rakyat, will be continued throughout this trying period and beyond,” said Chow.
Source : The Edge Markets – 5 November 2020 (Thursday)